Ashwin Dani, the second generation scion of the family-owned company Asian Paints died on September 28, at the age of 81, the company informed in a regulatory filing. He served as the non-executive director of the company.
“With deep regret, we inform you that Ashwin Dani, Non – Executive Director of the Company, left for heavenly abode today, on account of brief illness,” the company said. Ashwin Dani has been associated with the company since 1968. He joined the Company’s Board in 1970 and held the position of Vice Chairman and Managing Director of the Company from 1998 to 2009. Since 2009, he continued on the Board as the Non – Executive Director & Vice Chairman of the Board and the Company. For the period between 2018 to 2021 he held the position of Chairman of the Board and the Company, it stated.
According to Forbes, Ashwin Dani’s net worth is estimated to be approximately $7.1 billion as of 2023. He was born on September 26, 1944, in Mumbai. In 1966, he completed his Bachelor of Science degree in Chemistry from Mumbai University. He pursued a Master’s degree in Chemical Engineering from the University of Akron.
Earlier in June 2021, the Asian Paints board had approved the appointment of Deepak Satwalekar as Chairman of the Board, and had said that Ashwin Dani shall continue to be on the board of directors of the company as a non–executive/promoter director.
Ashwin Dani is the son of Suryakant, one of the four founders of the Asian Paints. He is married to Ina Dani and has three children. Dani’s son, Malav, is also a member of the company’s board.
In July 2023, Asian Paints had posted its fiscal first quarter earnings for FY24. It had clocked profit at Rs 1,574.84 crore, up 52 per cent in comparison to Rs 1,036.03 crore during the corresponding quarter of last year. It had posted revenue from operations at Rs 9,182.31 crore, up 6.7 per cent as against Rs 8,606.94 crore during the first quarter of FY23. The company EBITDA stood at Rs 2,121.2 crore.